UGI: Seriously?

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So, Bragg Financial Advisors… they bought more UGI. Two-hundred-and-seven-thousand, eight-hundred-and-sixty-one shares. Seven-point-three-six million dollars worth. Fine. Whatever. People buy stocks. It’s what they do. But the filing date? February 13, 2026? It’s almost March. The paperwork! The delay! It’s just… inconsiderate. Like they’re flaunting their ability to operate on a different temporal plane than the rest of us.

What happened, apparently

Apparently, this Bragg group decided UGI needed a little more love. Increased their stake. By a lot. And it cost them a cool $7.36 million. Based on, get this, the “mean unadjusted close price.” Mean unadjusted! What does that even mean? Is it adjusted for inflation? For the sheer annoyance of calculating it? They now have 1,316,362 shares. And the value of that position is up $12.40 million. Twelve. Point. Forty. Million. It’s just… ostentatious. Like they’re trying to impress someone. Who, I ask you?

What else to know, if you insist

  • Top holdings after this… extravagance:
    • NASDAQ: AAPL: $81.81 million (2.66% of AUM)
    • NASDAQ: MSFT: $80.23 million (2.61% of AUM)
    • NASDAQ: GOOGL: $73.00 million (2.38% of AUM)
    • NYSEMKT: VBR: $62.54 million (2.04% of AUM)
    • NYSE: RLI: $49.95 million (1.63% of AUM)
  • As of February 12, 2026 – again, almost March! – UGI was at $38.26. Up 23% over the year. Outperforming the S&P 500 by 10.64 percentage points. So, they’re bragging now, too? The stock is bragging?

Company overview, because apparently we need details

Metric Value
Revenue (TTM) $7.34 billion
Net Income (TTM) $600.00 million
Dividend Yield 3.86%
Price (as of market close 2/12/26) $38.26

Company snapshot, for the truly invested

  • UGI distributes propane, liquefied petroleum gases, natural gas, liquid fuels, and electricity. Seriously? All of it? It’s like they’re trying to corner the entire energy market.
  • They operate through AmeriGas Propane, UGI International, Midstream & Marketing, and UGI Utilities. Four segments. Four! It’s excessive.
  • They serve residential, commercial, industrial, agricultural, and wholesale customers. Everyone. They’re trying to be everything to everyone. It’s… unsettling.

Look, it’s a diversified energy distributor. Propane, natural gas, electricity. They have an “integrated infrastructure network.” It’s all very… efficient. And yes, it provides “resilience and access to stable, regulated revenue streams.” But it’s also… boring. And why do they need all those segments? It’s just a logistical nightmare waiting to happen.

What this transaction means for investors, or, why I’m annoyed

A utility adding to a portfolio already overflowing with tech giants. It changes the risk profile. Subtly. Like adding a slightly off-key note to a symphony. UGI started 2026 with $2.08 billion in revenue and 5% growth. Fine. Adjusted diluted EPS at $1.26. Okay. But the Utilities segment grew 12% due to “base rate increases in Pennsylvania.” Base rate increases! They’re just passing the cost onto the consumer! And 16% growth in “core market volumes during colder weather.” So, they’re profiting from people being cold? It’s… predatory.

And they’re reshaping the portfolio, divesting LPG businesses in Europe. Generating $215 million in cash. Moody’s upgraded AmeriGas’ outlook. It’s all very… positive. But it’s also… calculated. Like they’re playing some elaborate game. And they’re requesting $99 million and $27 million in distribution increases. More money. Of course.

At just over 1% of assets, this UGI position is below Apple, Microsoft, and Alphabet. But it adds “income stability and infrastructure exposure.” And with shares up 23% and a 4% dividend… it makes sense, they say. It makes sense? It’s just… predictable. A safe, boring, predictable investment. And frankly, I’m offended by the lack of imagination.

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2026-02-15 00:53